Friday, April 18, 2014   

Yuan touches record high against greenback
(12-04 11:57)

The yuan, strengthened 52 basis points to a record high of 6.13 against the US dollar today, according to the China Foreign Exchange Trading System.
The US dollar dropped against other major currencies overnight.
Investors remain cautious before Friday's US non farm payrolls data for November, which is seen hinged on whether the Fed does start reducing its 85 billion dollars of monthly bond purchases.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.
The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day.—Xinhua


   
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